December Gold futures faced a sharp decline to close out the week as hawkish comments from the Jackson Hole economic symposium drove short-term Treasury yields higher. With the market digesting the prospect of higher-for-longer interest rates, the opportunity cost of holding non-yielding assets weighed heavily on the metals complex. Despite the near-term headwinds, long-term support for gold remains intact as federal debt surpasses $40 trillion and the Treasury prepares to double its bond buyback program in September.